Bill > SB121

This bill increases the tax on tobacco products and establishes a new fund for nicotine use prevention and control programs. Specifically, it creates a "nicotine use prevention and control fund" administered by the department of health, which will receive thirty-five percent of the net revenue from the tobacco products tax. This fund will be used to develop programs, educational materials, and advertising aimed at preventing nicotine use among individuals aged five to twenty-five. The bill also amends the definition of "e-cigarette" to include devices that deliver vaporized nicotine and clarifies that "nicotine" includes synthetic forms and analogs. The general tax rate on tobacco products is raised from twenty-five percent to forty percent of the wholesale price, with specific rates established for cigars (twenty-five percent, capped at $0.50 per cigar) and little cigars (the same rate as cigarettes). The term "product value" has been replaced with "wholesale price" in relation to how the tax is calculated.

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=121&year=26